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Gold/Mining/Energy : Rare Earth Elements and Exotic Metals -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (10425)	5/20/2014 6:17:32 PM
From: LoneClone	Read Replies (1) \| Respond to of 24901

[Tungsten] Woulfe Mining Announces Shares for Debt and Provides a Corporate Update woulfemining.com May 16, 2014 - Vancouver, Canada - Woulfe Mining Corp. ("Woulfe" or the "Company") (CSE: WOF, Frankfurt: OZ4) announces that, subject to approval of the CSE, it has agreed with one of its creditors to settle debts of $697,011 by making a cash payment of $120,583 (representing 17.3% of the debt), as well as by issuing 5,764,281 common shares of the Company at a deemed price of $0.10 per common share and with a second creditor to settle debts of $199,295 by making a cash payment of $149,471 and by issuing 498,237 common shares of the Company at a deemed price of $0.10 per common share. The common shares issued on the settlement of the debts will be subject to a four-month hold period from the date of issuance. In addition, the Company, along with two of its service providers in South Korea, have agreed to issue common shares of the Company as partial compensation for ongoing services. Payments due to such service providers in shares will be settled at the end of each calendar month, with each share being issuable at a price equivalent to the market price of the Company's shares on the last trading day of such calendar month. Corporate Update: Mr. Michel Gaucher, CEO of Woulfe Mining Corp., announces that the Company commenced its Phase V drilling program on April 7, 2014. This will be a 4,000 metre drilling program designed to narrow the grid spacing to 20 metres on all three levels: the -1, the Sangdong and the Taebeck levels. This drilling program is expected to generate approximately 6,000 samples which will be assayed by SGS in Australia, of which 25% have already been shipped for assaying. This drilling program is expected to be completed by mid-July, 2014, and the results of the assays are expected during the second half of August, 2014. On Behalf of the Board of Directors Woulfe Mining Corp. "Michel Gaucher" Michel Gaucher, CEO and Director About Woulfe Mining Corp. Woulfe Mining Corp., through its wholly-owned subsidiary, Sangdong Mining Corporation, is dedicated to developing the Sangdong tungsten-molybdenum mine which was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits located outside of China. Woulfe Mining Corp. is listed on the Canadian Stock Exchange. For further information please contact: Nick Smith Mobile phone +1 (415) 595-0865, email : info@woulfemining.com